New York Times Reports 13.6% Jump in Profit

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The New York Times Company added about 300,000 new digital subscribers in the second quarter of the year, the company announced on Wednesday, propelling a 13.6 percent year-over-year increase in earnings. The company’s adjusted operating profit for the quarter, from April through June, rose to $104.7 million from $92.2 million a year before. Overall revenue increased 5.8 percent, to $625.1 million, compared with the same period in 2023. The Times now has more than 10.8 million total subscribers, of which 10.2 million are digital-only subscribers. The company has said it has a goal of 15 million subscribers by the end of 2027. A growing number of the digital subscribers — now nearly half — subscribe to more than one of The Times’s products, which include the news report, games, recipes, the Wirecutter review site and The Athletic, a sports news website. Meredith Kopit Levien, chief executive of the Times Company, said in a statement that the combination of The Times’s journalism and its lifestyle products gave the company “complementary offerings” with multiple opportunities for growth.